Title Companies
The last line of defense.
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Title Companies The last line of defense.
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Title companies are hired, in part, to
issue title insurance protection -- which consumers pay for -- after the
company has investigated a title to make sure it is clear of any
encumbrances, such as liens or judgments; forgeries or fraud and any other
title anomalies. Title companies can also act as escrow companies -- the
neutral third party that handles the paperwork, money, transaction
instructions, and other details of a home purchase or mortgage refinance.
The main problem that companies face is that inaccurate data is provided for the HUD-1 Settlement Statements which are sent to lenders and borrowers.
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